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Quantguy

Litecoin Bottoms Out... For Now...Litecoin has continued a rally after smashing through lower levels, testing the $50's. We found support at $55.84, confirmed by a green triangle on the KRI. We were able to reestablish the $60's after that, breaking through $66.94, then making a run for $73.62. We are currently just shy of this level, hovering about $72 or so at the time of this writing. We are running into some resistance confirmed by red triangles on the KRI, but the Kovach OBV has picked up. It is starting to level off, and it will take more momentum to press higher. We must first break $73.62, then $77.39 is the next target. After that, we have a vacuum zone to $85.08.
BITSTAMP:LTCUSDShort
by quantguy
2
Has Ethereum Bottomed??Ethereum appears to be attempting a nice recovery, gaining footing after testing the $1700's. Recall that $1771 is a strong Fibonacci level on the daily charts and that is exactly where we have found support. We have subsequently rallied back to the $2K's, currently contending with $2100. The Kovach OBV is still very bearish, so be very careful trying to catch the bottom. If you're thinking longer term, and are OK with the potential for lower prices, it may be a good idea to start tiering a long position. This level of volatility is to be expected near a bottom.
BITSTAMP:ETHUSDShort
by quantguy
2
Bottom Near for Bitcoin??Bitcoin has fallen deeply into the $20K's, but found support at $25.1K. We have subsequently rallied and appear to be attempting to claw back to $30K. We anticipated yesterday, that $28K was a target if we got some momentum, and we were able to meet and break that target. However, the $30K's appear to be giving us some resistance at $30.2K and $31.0K. The Kovach OBV has picked up notably. A swing of $5K is exactly what we would expect from crypto near a bottom. However, don't get caught in a 'bull trap' as we may press lower once more. If so, $25K should be considered a lower bound for now, however keep in mind, that on the daily charts there is a vacuum zone below to $19K, a strong technical and Fibonacci level.
BITSTAMP:BTCUSDShort
by quantguy
5
The DXY Hits our Profit Targets!! 💸🤑The US dollar has resumed its rally, hitting the profit targets we have been discussing for weeks now. We have set 104.53 and 104.83 as profit targets, using Fibonacci extensions a while back, and we have just now hit both of these, after extending a sideways correction for quite some time. However, we broke out of a bull wedge consolidation pattern and the rally has continued. We are currently seeing some resistance at these levels, confirmed by red triangles on the KRI. But if we are able to breakout further, then 105.78 is the next target. Be mindful of the vacuum zone below to 102.86.
TVC:DXYLong
by quantguy
Oil Tests Relative HighsOil has extended gains, breaking through $106 and currently testing $108. We appear to be feeling out the range between $100 and $108, but there is a bull bias, and the Kovach OBV has picked up notably. If we are able to continue the rally, there is a vacuum zone to $111. We do appear to be facing resistance at the moment, confirmed by some red triangles on the KRI, so beware of a potential retracement, which should find support at $106, but may cross the vacuum zone again down to $101 or $100. The $100's should hold, but if not $95.24 has proven to be reliable floor price.
NYMEX:CL1!
by quantguy
Is a Reversal Near for Stocks??Stocks have continued their decline, set to end the week deeply in the red. We have completely given up the 4K's, extending down to our level at 3867 or so. We are currently seeing a small bounce from these lows, but have yet to test 4K again, which should provide resistance. If we keep it up, we may test 4009 or 4068. The Kovach OBV is still extremely bearish, so use caution. It might be a good idea to start accumulating a long position, just be wary of the fact that we may press lower. If the selloff resumes, we should find support from lows at 3867, then 3848 and 3825.
FX:SPX500Short
by quantguy
Can Gold Maintain $1800??Gold has smashd through lowe levels, but found support exactly where we identified yesterday at $1815. Notice that $1815 is the last major level in the $1800's, and there is a nice value area below from a few months prior between $1795 and $1815. If we break down further, it is highly likely that we will seek value there again. The Kovach OBV has dropped off dramatically, but appears to be leveling off. If we see a relief rally, then $1836 or $1851 are reasonable targets.
COMEX:GC1!Short
by quantguy
Bonds Benefit from Risk-On OutflowsBonds have picked up, breaking through several of our upside levels. We set a target of 119'23, and that is exactly the level we've reached. We are seeing signs of resistance here from several red triangles on the KRI. The Kovach OBV has picked up however, but it is doubtful momentum will take us much further, given the market conditions. If we are able to break out again, then we should see resistance at 120'14 and 121'00, who relative highs. From below we will have support from 119'01 and 118'04.
CBOT:ZN1!
by quantguy
Litecoin Melts Down 😱📉Litecoin has dumped yet again, finding support at $55.84, the level we identified yesterday. We do appear to be seeing some support, but were not even able to cross the vacuum zone to the next level at $66.94. A relief rally could easily take us back to that level or the next level at $73.62. However, we appear to be establishing value in the vacuum zone between $55.84 and $66.94. We are not seeing enough momentum to warrent a further rally despite the incredibly oversold conditions. If the selloff resumes, then $55.84 should give support, otherwise we will feel out lower levels in the $50's.
BITSTAMP:LTCUSDShort
by quantguy
2
Ethereum Hits Critical Levels!!Ethereum has plummeted past many of our support levels, finally finding support at around $1700. Recall that $1770 is a very significant level and corresponds to a Fibonacci level on the daily chart. We did see remarkable support here and ETH subsequenty was able to pivot back to the $1900's. We will see if we are able to recover the $2K's. If so, then $2025 and $2087 are the next targets. At this point, it seems that the $2K's are a barrier. The Kovach OBV registers dramatically oversold conditions, so a relief rally is due. But if the selloff continues, then the $1700's should provide support and should be considered a floor for now.
BITSTAMP:ETHUSDShort
by quantguy
How Low Can Bitcoin Go?? 📉🤯Bitcoin fell deeper into the $20K's last night. It found support at $25.1K, our exact level, before finding support and pivoting back to the $28K's. At this point, $30K should be a barrier, which was unthinkable for some, even a few days ago. The Kovach OBV is abysmal, and registers the most extreme of sold off conditions. A relief rally is to be expected and we will see if the bounce we got back to $28K is all we are going to get. If we do see some momentum come through then we must first break $30K, then $32.3K is the next target. If $25.1K fails to hold, then the next targets below are $22.4K and $20.7K. We have a major low and Fibonacci level on the daily chart at $19K, which we expect to be the bottom, should the selloff continue.
BITSTAMP:BTCUSDShort
by quantguy
2
DXY Hits our Target!! 🤑💸The US dollar has broken out of its range, finally hitting the target we have been calling out for weeks. The 104 handle seemed to be a barrier for the DXY for some time, but finally, we were able to build up enough steam to break through it and solidify the 104's for now. The price action was tending to higher levels, and we saw a bull wedge forming, from which we broke out last night. We do appear to be seeing some resistance from our target at 104.53. If resistance holds, then we could retreat to the range between 102.86 and 104.53. Otherwise, the next target is 104.83.
TVC:DXYLong
by quantguy
The S&P 500 Digs into the 3K's!!Stocks have continued their decline, for the fourth day this week. This week has been abysmal for virtually all risk-on assets. We have solidly given up the 4K's, which we noted was likely to happen if 4009 was breached. We appeared to see some stability as we tested 3978 and 3963 twice, but the selloff reinvigorated, and we smashed through these levels with ease. We appear to be getting some support at the moment from 3909, the last level in the 3900 handle. If that does not hold, we will break into the 3800 handle with 3887 and 3867 the first levels of support if we plummet further. Both Kovach momentum indicators are deeply bearish, and registering oversold conditions. A relief rally is reasonable at this point, but we will likely find resistance at 4009 with 4068 a likely ceiling for now.
FX:SPX500Short
by quantguy
Has Bitcoin Bottomed Out??Bitcoin appears to have bottomed out for now at $30K or so. Recall that we were able to wick into the $29K's, but this was quickly bought back. We seem to be forming a narrow range, bouncing back and forth between our levels at $30.2K and $32.3K. The Kovach OBV is still bearish, but $30K is a strong psychological and technical level. If we are able to break out from here, then $34K is the next target after crossing the vacuum zone. If we fall further, and are able to break $30K, then $28.8K is the next target.
BITSTAMP:BTCUSDShort
by quantguy
Have Stocks Found a Bottom??Stocks found support at 3963, once again testing the 3K handle. The S&P 500 seems to be dipping into the 3K's with increased confidence. It is reasonable at this point for stocks to take a breather and mave a sideways correction or relief rally. The Kovach OBV has turned south but does appear to be curving over. If we are to see a rally, potential targets are 4009, 4068 and 4122. If the selloff continues, then 3937, 3928 and 3909 should provide support.
FX:SPX500Short
by quantguy
Litecoin DUMPS!! 💥📉Litecoin melted down yesterday, smashing through all of our levels. We've had to add in some levels below, using inverse Fibonacci levels and identifying technical support, since we've simply run out of levels from below. We do appear to have good support at $73.52, which seems to be a low for now. Subsequently, we saw a nice pivot from there and have bounced to just below our level at $85.08, where a red triangle on the KRI is signalling some resistance. From here it is likely to feel out the range between $77.39 and $85.08. If we gain momentum, then there is a vacuum zone back to $92.62. If not, we could retest lows again at $73.62.
BITSTAMP:LTCUSDShort
by quantguy
1
Ethereum SMASHES Lower Levels!! 📉😣Ethereum has fallen with the rest of the crypto market, smashing through several significant level, but finally leveling off around $2232. We are seeing several green triangles on the KRI at this level suggesting it will hold strong. We saw a nice pivot back to $2402, where we are currently meeting resistance. The Kovach OBV has flattened, but is still very bearish. If the selloff continues, $2232 is the level to break before considering lower levels. After that, $2143 is the next target. If we are able to break further, we should have resistance from the $2500's, which correspond to a significant Fibonacci level on the daily chart.
BITSTAMP:ETHUSDShort
by quantguy
MASSIVE Selloff in Bitcoin!! 😱📉🐻Bitcoin melted down yesterday, as risk-on assets got annihilated. Alerts kept pouring into our phones as Bitcoin sold off further and further. We blasted through significant levels of supportand dipped into the $29K's, albeit briefly, before we saw some buying interest. It is reasonable at this point, after being so oversold, for there to be a relief rally, but it still does not appear that we've reached 'max pain'. We were able to test $32.3K again, but the Kovach OBV has not registered any significant buying. It is still very bearish, but tapering ever so slightly, suggesting perhaps a brief correction to the bear trend. If we can break $32.3K, then we should have resistance from the $34K's. Recall that $34.9K is a significant Fibonacci level. If we fall further, we will establish the $20K's again, with $28.8K being the next target.
BITSTAMP:BTCUSDShort
by quantguy
Stocks MELT DOWN!! S&P 500 Breaks 4000!!Stocks broke down hard yesterday, as virtually all risk-on assets were sold-off. We smashed through 4122, 4068, and as we mentioned in the last reports, 4009 was the last level of the 4K's. This gave way, and we were able to test the high 3K's before finding support at 3978. We finally saw a small pivot from this level and have regained the 4K's, currently wavering in the vacuum zone between 4009 and 4068. The latter will provide resistance, then 4122 and 4144. It will take a sharp buyback to break all these levels and regain the 4200's. From below, 3978 should provide support, but after that, 3963, 3937, and 3928 are the next targets if it fails to hold.
FX:SPX500Short
by quantguy